Vanguard Group Inc. Acquires 106,906 Shares of CVR Energy Inc. $CVI

Key Points

• Vanguard Group increased its CVR Energy stake by 3.0% in the fourth quarter, buying 106,906 shares and bringing its total holding to 3.71 million shares, or about 3.69% of the company.
• CVR Energy reported a quarterly loss of $1.24 per share, wider than analysts expected, even though revenue came in at $1.98 billion and rose 20.3% year over year.
• Analysts remain cautious on the stock: the consensus rating is Strong Sell with an average price target of $31.75, while the company also declared a quarterly dividend of $0.10 per share.

Vanguard Group Inc. lifted its holdings in CVR Energy Inc. (NYSE:CVI - Free Report) by 3.0% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,705,809 shares of the oil and gas company's stock after purchasing an additional 106,906 shares during the period. Vanguard Group Inc. owned about 3.69% of CVR Energy worth $94,276,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Illinois Municipal Retirement Fund lifted its stake in shares of CVR Energy by 2.2% in the 3rd quarter. Illinois Municipal Retirement Fund now owns 17,081 shares of the oil and gas company's stock worth $623,000 after purchasing an additional 363 shares during the period. Victory Capital Management Inc. lifted its stake in shares of CVR Energy by 2.9% in the 3rd quarter. Victory Capital Management Inc. now owns 21,329 shares of the oil and gas company's stock worth $778,000 after purchasing an additional 596 shares during the period. Alliancebernstein L.P. lifted its stake in shares of CVR Energy by 1.5% in the 3rd quarter. Alliancebernstein L.P. now owns 48,943 shares of the oil and gas company's stock worth $1,785,000 after purchasing an additional 700 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of CVR Energy by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,301 shares of the oil and gas company's stock worth $394,000 after purchasing an additional 858 shares during the period. Finally, SG Americas Securities LLC lifted its stake in shares of CVR Energy by 3.1% in the 4th quarter. SG Americas Securities LLC now owns 28,848 shares of the oil and gas company's stock worth $734,000 after purchasing an additional 873 shares during the period. Institutional investors own 98.88% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CVI. The Goldman Sachs Group began coverage on shares of CVR Energy in a research note on Friday, April 10th. They issued a "sell" rating and a $30.00 price objective on the stock. Wall Street Zen upgraded shares of CVR Energy from a "sell" rating to a "hold" rating in a research note on Saturday, May 2nd. Mizuho increased their price objective on shares of CVR Energy from $28.00 to $32.00 and gave the stock an "underperform" rating in a research note on Tuesday, March 17th. Raymond James Financial upgraded shares of CVR Energy from an "underperform" rating to a "market perform" rating in a research note on Wednesday, March 25th. Finally, Scotiabank raised their target price on shares of CVR Energy from $25.00 to $28.00 and gave the stock a "sector underperform" rating in a research note on Wednesday, April 22nd. Two analysts have rated the stock with a Hold rating and four have given a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Strong Sell" and an average price target of $31.75.

CVR Energy Price Performance

NYSE CVI opened at $33.94 on Thursday. CVR Energy Inc. has a 12 month low of $19.62 and a 12 month high of $41.67. The stock has a market cap of $3.41 billion, a price-to-earnings ratio of -78.94 and a beta of 0.83. The company's 50 day moving average is $31.39 and its two-hundred day moving average is $29.62. The company has a current ratio of 1.44, a quick ratio of 0.89 and a debt-to-equity ratio of 2.41.

CVR Energy (NYSE:CVI - Get Free Report) last released its earnings results on Wednesday, April 29th. The oil and gas company reported ($1.24) EPS for the quarter, missing analysts' consensus estimates of ($0.54) by ($0.70). CVR Energy had a negative return on equity of 22.36% and a negative net margin of 0.56%.The firm had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the previous year, the business posted ($0.58) EPS. CVR Energy's revenue was up 20.3% on a year-over-year basis. As a group, research analysts anticipate that CVR Energy Inc. will post 0.88 earnings per share for the current year.

CVR Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 18th. Investors of record on Monday, May 11th will be given a dividend of $0.10 per share. The ex-dividend date is Monday, May 11th. This represents a $0.40 annualized dividend and a dividend yield of 1.2%. CVR Energy's dividend payout ratio (DPR) is currently -93.02%.

Insider Activity

In other CVR Energy news, major shareholder Carl C. Icahn bought 275,012 shares of the business's stock in a transaction that occurred on Tuesday, February 24th. The stock was purchased at an average price of $21.41 per share, for a total transaction of $5,888,006.92. Following the completion of the transaction, the insider owned 71,201,875 shares of the company's stock, valued at $1,524,432,143.75. This trade represents a 0.39% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders bought a total of 783,404 shares of company stock worth $16,445,044 in the last three months. Company insiders own 0.01% of the company's stock.

CVR Energy Company Profile

CVR Energy, Inc is an independent downstream energy company engaged primarily in petroleum refining and nitrogen fertilizer production in the United States. Headquartered in Sugar Land, Texas, CVR Energy operates through two reportable segments—Petroleum Products and Nitrogen Fertilizers—leveraging its refining expertise and distribution network to serve both wholesale and retail markets across key regions in the U.S.

In its Petroleum Products segment, the company owns and operates the Coffeyville, Kansas refinery, which has the capability to process various grades of crude oil into gasoline, diesel, jet fuel and other refined products.

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